Class 4 National Insurance Contributions

Debate between Lord Hammond of Runnymede and Amanda Solloway

Wednesday 15th March 2017 Commons Chamber

[Mr Hammond]

Because those representations were not made before the statement. In fact, as the hon. Gentleman will remember, there was quite a lot of speculation in the media in the week before the Budget about a possible increase in class 4 national insurance contributions, but I did not see any reference to the manifesto in any of those media discussions. We believe that the National Insurance Contributions (Rate Ceilings) Act put into law the lock that we put in place, and I did not hear anybody suggest anything to the contrary during the press speculation in the week before the Budget.

[Amanda Solloway (Derby North) (Con)]

I want to add my congratulations to the Chancellor on his announcement. Self-employment is key to our economy and to the people of Derby. We have many great examples of successful and thriving businesses, thanks to the ongoing polices of this Government. Will my right hon. Friend assure me, however, that he will look at all the ways in which he can encourage the continued growth of those essential businesses?

[Mr Hammond]

Yes. It is precisely growing small businesses that we must seek to encourage. The subset of the self-employed who employ people—it is actually quite a small subset—are very much to be encouraged, because that is a way of promoting growth and creating job opportunities in our communities.